Australia: Draft instrument on correcting fuel tax errors
The Australian Taxation Office released a draft legislative instrument that allows the correction of fuel tax errors
Draft instrument on correcting fuel tax errors
The Australian Taxation Office (ATO) released a draft legislative instrument that allows the correction of fuel tax errors made in a tax period, to be done in a later tax period in specified circumstances.
As outlined in LI 2023/D14 Fuel Tax (Correcting Fuel Tax Errors) Determination 2023, when the circumstances are met, the error made in an earlier tax period can be corrected by including the error amount in a fuel tax return in a later tax period instead of requesting the Commissioner of Taxation to amend the earlier tax period’s assessment.
The determination, however, will not apply to errors that were made in working out a net fuel amount for a tax period that started before 1 July 2012.
Consultation closes 4 August 2023.
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